CBSE Class 11 Statistics for Economics by Pavan | Practice Test to Test Your Knowledge
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  3. CBSE Class 11 Statistics for Economics
CBSE Class 11 Statistics for Economics

CBSE Class 11 Statistics for Economics

Mock test covering essential market structures, consumer behavior, government roles, and economic principles. Develop critical thinking and apply theoretical knowledge to real-world situations for a comprehensive understanding.

2025-07-17
Pavan Pavan
CBSE Class 11 Statistics Economics Grade 11

Duration

30 min

Questions

30

Marking

Negative

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Questions Preview

What is Economics primarily concerned with?

A
The study of man in the ordinary business of life
B
The study of money and wealth
C
The study of government policies
D
The study of mathematical models

What is the root cause of economic problems?

A
Scarcity
B
Greed
C
Government intervention
D
Unemployment

Which of the following is NOT an economic activity?

A
Buying goods for personal use
B
Producing goods for the market
C
Working in a job and earning wages
D
Eating food at home

What is the definition of statistics in economics?

A
The study of data collection, analysis, and interpretation
B
The study of wealth distribution
C
The study of government policies
D
The study of mathematical formulas

Which of the following is an example of qualitative data?

A
Income earned
B
Marks in a subject
C
Beauty
D
Height

What is a key feature of Statistics?

A
It deals with the collection and analysis of quantitative and qualitative data
B
It is only concerned with numbers
C
It only deals with economic policies
D
It is unrelated to economics

What does the study of production in economics concern?

A
How goods are consumed
B
How goods are produced for the market
C
How goods are distributed in society
D
How services are provided

Which of the following is an example of a distribution activity in economics?

A
Wages paid to employees
B
Manufacturing of goods
C
Consumption of goods
D
Exchange of goods in the market

What is one of the uses of Statistics in economics?

A
To analyse economic problems using data
B
To create random data for simulations
C
To provide exact solutions for all economic problems
D
To replace all economic theories

Why is scarcity a fundamental concept in economics?

A
Because it drives the need to make choices
B
Because there is never enough money
C
Because of government policies
D
Because resources are unlimited

What role does an economist use Statistics for?

A
To make sense of economic facts and analyze problems
B
To forecast weather patterns
C
To create entertainment for the public
D
To design economic theories

What is meant by the term 'alternative uses' of resources?

A
Resources can be used in different ways to produce different goods
B
Resources can only be used for one type of good
C
Resources are unlimited
D
Resources cannot be substituted

What does the analysis of economic problems require?

A
Data on various factors related to the problem
B
Theoretical models without real data
C
Assumptions without verification
D
Opinions based on subjective views

Which of the following statements is true about Statistics?

A
It helps in solving economic problems by understanding them through data
B
It only works with quantitative data
C
It is irrelevant to Economics
D
It is only useful for government policies

Which economic activity is concerned with the creation of goods?

A
Production
B
Consumption
C
Distribution
D
Employment

What does Distribution in economics primarily concern?

A
How goods are shared among people in society
B
How goods are produced for sale
C
How people work in various jobs
D
How much money people earn

What is a limitation of statistics in economics?

A
It is only useful for making predictions
B
It cannot handle qualitative data
C
It can be misused if applied incorrectly
D
It eliminates the need for economic policies

How does Statistics help in formulating policies?

A
By providing accurate data to understand economic issues
B
By predicting the future without real data
C
By creating false assumptions
D
By relying on subjective judgment

What is the role of data in economic analysis?

A
To identify causes and relationships underlying economic problems
B
To create abstract theories without data
C
To avoid the use of qualitative information
D
To make subjective decisions

What is the importance of collecting economic data?

A
To understand and solve economic problems based on factual information
B
To create random data for simulations
C
To make predictions without real-world data
D
To evaluate personal opinions

What is the main goal of applying statistical methods in economics?

A
To analyze data and formulate policies for solving economic problems
B
To predict stock market trends
C
To create economic theories
D
To evaluate personal opinions

Which of the following is an example of quantitative data?

A
Gender
B
Income earned
C
Beauty
D
Skills level

What does the concept of scarcity in economics imply?

A
There are limited resources to meet unlimited wants
B
Resources are unlimited and can satisfy all needs
C
Everyone has equal access to resources
D
Economic problems do not exist

What is one of the uses of Statistics in Economics?

A
To help in understanding and explaining economic problems
B
To create random predictions
C
To make subjective guesses about the economy
D
To avoid government policies

Which of the following is an example of economic distribution?

A
The division of national income into wages, profits, and interest
B
The manufacturing of goods
C
The consumption of goods
D
The exchange of goods in the market

Which of the following is NOT a primary objective of studying Economics?

A
To understand economic activities like consumption, production, and distribution
B
To analyze individual preferences in decision-making
C
To focus only on the theoretical aspects of economics
D
To understand how the economy functions as a whole

What is a challenge faced by economists when analyzing economic data?

A
The difficulty in obtaining reliable data
B
The abundance of qualitative data
C
The availability of infinite resources
D
The complexity of predictions

Which of the following is true regarding statistical methods in economics?

A
They help economists understand economic problems through data analysis
B
They only provide predictions without any real data
C
They can replace the need for theories and assumptions
D
They make all decisions in economics based on subjective opinion

Why do we need to collect and analyze data in Economics?

A
To make informed decisions about economic policies
B
To make subjective guesses about the economy
C
To avoid using any statistical tools
D
To make random guesses based on intuition

What is the relationship between Economics and Statistics?

A
Economics relies on Statistics to analyze economic data and make decisions
B
Economics is unrelated to Statistics
C
Statistics is only used in Economics to prove theories
D
Statistics is used solely to create economic policies